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☆ Buying a car won't ever go back to normal — so you might as well buy now
▼ + stars: | 2023-03-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +7 min

What makes it a good idea to buy a car right now? It's important to remember that car buying is probably never going back to "normal." Used prices are expected to go back up again, creating a short window of opportunity. As for interest rates: It's hard to say what will happen in the long run. A cash buyer ready to undertake sufficient due diligence can certainly get a solid deal in today's car market."

☆ London stocks fall as Prudential drops, spring budget in focus
▼ + stars: | 2023-03-15 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies Prudential at the bottom of FTSE 100Precious metal miners down over 2%Spring budget in sightFTSE 100 down 1.4%, FTSE 250 off 1.3%March 15 (Reuters) - London stocks fell on Wednesday as Prudential touched the bottom of the FTSE 100 index after its annual results, with investors awaiting the UK spring budget due later in the day. The blue-chip FTSE 100 (.FTSE) was down 1.4% after jumping more than 1% on Tuesday. Prudential (PRU.L) fell 6.3% despite the Asia-focused insurer reporting an 8% jump in full-year year profit. The wider life insurance index (.FTNMX303010) fell 4.2%, hitting a near three-month low. Investors would be keenly awaiting the UK's spring budget, with Finance Minister Jeremy Hunt due to make a budget speech to parliament at around 1230 GMT.

☆ 9 questions you should always ask when buying a car
▼ + stars: | 2023-03-15 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

Many of the car brands with more inventory on lots than others might also have higher loan payments. "The role of a dealer isn't just to sell them a car, it's to help them find the lowest interest rate possible, and that's both new car dealers and used car dealers. "Even based on the specific car, one bank may provide a lower interest rate on a specific sort of make and model." The used car market might be even more complicated for car shoppers than the new market right now. As a result, far fewer car shoppers have opted to lease a car in recent years.

☆ Automakers abandoned the 'starter car' — and it's raising prices for everyone
▼ + stars: | 2023-03-07 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Many car companies are prioritizing high-profit vehicles over starter cars. Though those figures are averages, it's clear that lower-end vehicles are more costly than they used to be — a direction automakers have been moving in for years. "There is definitely a void happening in the market for those vehicles," Kunes added. What car buyers can look out forThe used market isn't much better, Kunes noted — the average used vehicle transaction price was $29,226 last month, per J.D. Power — "which really puts a lot of pressure on that lower-end market, and there's no manufacturers really stepping up to fill that void."

☆ The days of sky-high trade-in values are over. Here's how to tell what your car is worth.
▼ + stars: | 2023-03-07 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

During the peak of car inventory problems, drivers could have traded in used cars for thousands. Meanwhile, the average transaction price for a used vehicle peaked at $31,300 in April 2022, J.D. But, "These used car values have been dropping over the last year. Car buying won't ever revert to normal, but that's all to say, it's no longer the best environment to get thousands of dollars for your used car that's probably worth a lot less (no offense). "While we've seen some cooling since their peak, used prices remain extremely elevated still," Paris said.

☆ US unit of Spain's ACS to build EV battery plant for Panasonic in Kansas
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +1 min

MADRID, March 2 (Reuters) - A joint venture between the U.S. unit of Spanish engineering group ACS (ACS.MC) and Philadelphia-based Yates Construction has won a contract to build an electric vehicle (EV) battery plant in Kansas as part of a $4 billion investment by Japan's Panasonic (6752.T) group, the companies said on Wednesday. The EV battery factory in the city of De Soto is expected to start operating by the end of March 2025 and will reach approximately 30 gigawatts-hour of annual production capacity, according to a statement by ACS' Turner Construction. "The battery manufacturing facility is a critical part of Panasonic's investment in the United States to expand EV battery production capacity," the company said. In addition to the assembly facility, the project will include construction of a central utility plant and support buildings, it added. Reporting by David Latona; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ Car buyers rejoice: Discounts are making a comeback — but you might have to ask for them
▼ + stars: | 2023-03-01 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Car buyers didn't see the end-of-year blowout sales in November and December that they had been used to in holiday seasons' past. Instead, shoppers had to settle for new and used vehicles with markups above sticker price and no wiggle room. That puts discounts now at around $1,297, about 1% higher than the same time in 2022, Deutsche Bank analysts estimated this week. Where buyers might find the best incentivesLuxury vehicles saw the highest incentives at 6.2% in January, KBB said. "There's also some loyalty cash, and there's a pretty decent amount of rebates on some of the higher end vehicles.

☆ Theater chain AMC falls 8% on worries of slower box-office recovery
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

In the United States and Canada, box office collection was above $11 billion in 2019, but since the COVID-19 pandemic, the numbers have fallen drastically, with 2022 box office numbers coming in at $7.4 billion, the company said. "It will take years to see box office revenues return to 2019 levels, which they may not ever do at all," said Jamie Lumley, analyst at Third Bridge. Wedbush Securities analysts expect 2023 box office to be down 24% from 2019 levels. AMC, however, said it expects box office will not return to pre-pandemic norms before 2024 or 2025 at the earliest. Still, AMC said it would pay down its debt of about $4.95 billion as it continued to raise cash.

☆ FTSE 100 falls as Ocado sinks; still set for best Feb in six years
▼ + stars: | 2023-02-28 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) lost 0.6% with shares of Ocado (OCDO.L) plunging 10.5% on the online supermarket and technology group's worse-than-expected full-year loss. "Ocado is in the eye of the cost-of-living storm because its offering isn't synonymous with being the best value," said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown. Lund-Yates said Ocado is a higher-end option, without the same benefits of enticing people with tangible, physical goods like peer Marks & Spencer (MKS.L). Despite recent volatility, the exporter-heavy FTSE 100 is on track to record its best February performance since 2017 as higher earnings and weakness in the pound earlier in the month made equities more attractive. On the flipside, hedge fund firm Man Group (EMG.L) gained 7.9% after posting a higher full-year core pretax profit and beating expectations on assets under management.

☆ Barclays shares plunge 10% as profit falls
▼ + stars: | 2023-02-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Shares of Barclays tumbled nearly 10% Wednesday after the British bank reported a sharp drop in profit, driven by increased provisions for bad debts and huge fines for wrongly sold securities in the United States. Barclays (BCS) reported a net profit of £5.97 billion ($7.2 billion) for 2022, a 15% decline on the previous year. Meanwhile fee income at Barclays International, which houses its investment bank, slid 22% to £5.2 billion ($6.3 billion). Investors may also have been disappointed by the announcement of a £500 million ($600.7 million) share buyback, adding to pressure on the stock. Barclays said total share buybacks amounted to £1 billion ($1.2 billion) in 2022.

☆ London's FTSE 100 muted as bank stocks fall; weaker pound limits losses
▼ + stars: | 2023-02-15 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) fell 0.1%, hovering near a record high. British lender Barclays (BARC.L) slid 8.3% to the bottom of the FTSE 100 and was set to post its biggest drop in nearly a year after reporting a 14% slump in full-year profit. The FTSE 350 banking index (.FTNMX301010) fell 1.9%, on track for its biggest one-day drop in more than two months. The pound edged lower after data showed British consumer price inflation fell more than expected in January and there were also drops in underlying measures of inflation that are being closely watched by the Bank of England. The FTSE 100 has had a stellar start to the year boosted by upbeat corporate earnings, rising more than 6% so far this year.

☆ European shares up as travel stocks shine, Thyssenkrupp slides
▼ + stars: | 2023-02-14 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The continent-wide STOXX 600 index (.STOXX) rose 0.4%, while European travel & leisure stocks (.SXTP) advanced 0.8%. TUI's German-listed shares (TUIGn.DE) rose 2.5%, with its shares listed in London adding 2.5% after the company reported more bookings and higher first-quarter revenue. In Europe, a flash reading of fourth quarter GDP is also on the radar on growing hopes that the euro zone economy most likely avoided a recession. The STOXX 600 has risen over 9% so far this year led by better-than-expected earnings and a brighter outlook for the euro zone economy. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Savio D'Souza and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Colorado bear takes hundreds of 'selfies' on wildlife camera trap
▼ + stars: | 2023-01-26 | by ( Annie Hill | ) www.nbcnews.com time to read: +1 min

A curious bear has become the surprise star of wildlife cameras set up in Boulder, Colorado, taking hundreds of "selfies" in an apparent impromptu photoshoot, local officials said. This particular bear, however, appeared to be captivated by the camera. "In this instance, a bear took a special interest in one of our wildlife cameras and took the opportunity to capture hundreds of 'selfies,'" Phillip Yates, a spokesperson for Open Space and Mountain Parks, said in a statement Thursday. The photo series, which appears to meditate on the ephemeral nature of life, has pioneered a bold new hybrid of self-portraiture and wildlife photography. While officials may not have expected photoshoots to be among those uses, Yates said the images captured by the wildlife cameras can also be used to help recommend measures to protect important natural areas.

Jan 25 (Reuters) - Tesla Inc's (TSLA.O) aggressive price cuts have ignited demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, playing down concerns that a weak economy would throttle buyers' interest. However, Musk, who has missed his own ambitious sales targets for Tesla in recent years, said 2023 deliveries could hit 2 million vehicles, absent external disruption. He said he expected a "pretty difficult recession this year," but demand for Tesla vehicles "will be good despite probably a contraction in the automotive market as a whole." CYBERTRUCKThe company is relying on older products and Musk said its Cybertruck, its next new electric pickup truck, would not begin volume production until next year. Musk dismissed surveys that suggest his political comments on Twitter are damaging the Tesla brand.

Jan 25 (Reuters) - Tesla Inc's (TSLA.O) aggressive price cuts have ignited demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, playing down concerns that a weak economy would throttle buyers' interest. Deep price cuts this month have positioned Tesla as the initiator of a price war, but its forecast of a 37% rise in car volume for the year, to 1.8 million vehicles, was down from 2022's pace. Musk, who has missed his own ambitious sales targets for Tesla in recent years, said that deliveries in 2023 could hit 2 million vehicles, absent external disruption. The company is relying on older products and Musk said its Cybertruck, its next new electric pickup truck, would not begin volume production until next year. Net profit for the quarter was $3.69 billion, or $1.07 per share, compared with $2.32 billion, or 68 cents per share, a year earlier.

Jan 25 (Reuters) - Tesla Inc's (TSLA.O) aggressive price cuts have created a wave of demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, addressing concerns that a weak economy would throttle buyers' interest. "These price changes really make a difference for the average consumer," he said, adding that demand was roughly double production in January and that sales in 2023 could hit 2 million vehicles, absent external disruption. Musk dismissed the suggestion that his political commentary on Twitter had become divisive or a problem for Tesla. "Tesla’s plans to rapidly scale up output will only stimulate profit growth if demand is there to meet it. Even a small cooling of demand will have significant implications for the bottom line," said Sophie Lund-Yates, an analyst at Hargreaves Lansdown.

But its recent, steep global price cuts mark a move toward stimulating growth at the expense of profit margins, underscoring softening demand. Tesla said its automotive operation margin was 25.9% in the fourth quarter, the lowest in two years. Net profit for the quarter was $3.69 billion, or $1.07 per share, compared with $2.32 billion, or 68 cents per share, a year earlier. Tesla ended 2022 with just over $22 billion in cash and cash equivalents. "Tesla’s plans to rapidly scale up output will only stimulate profit growth if demand is there to meet it.

☆ Lund-Yates: The tech sector has seen tremendous momentum to start 2023, but there's still a ways to go to get back to the highs
▼ + stars: | 2023-01-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLund-Yates: The tech sector has seen tremendous momentum to start 2023, but there's still a ways to go to get back to the highsSophie Lund-Yates, senior equity analyst at Hargreaves Lansdown, discusses what's been driving the gains in tech to start the year, and the key issues facing Microsoft and Apple ahead of their earnings reports.

☆ Netflix stock jumps 6% after co-CEO Reed Hastings steps down and subscriber numbers soar
▼ + stars: | 2023-01-20 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Netflix shares rallied 6% ahead of Friday's opening bell after the company released its fourth-quarter results. Also, Co-CEO Reed Hastings announced he would be quitting his current role. The firm also announced that co-CEO Reed Hastings would be stepping down to become Netflix's executive chairman. Hastings co-founded Netflix in 1997 and oversaw its transition from DVD delivery service to a streaming behemoth and onetime Wall Street darling. Read more: Reed Hastings is stepping down as co-CEO of Netflix

☆ Britain's Tesco to target value offers after strong Christmas
▼ + stars: | 2023-01-12 | by ( James Davey | ) www.reuters.com time to read: +3 min

[1/2] Clubcard branding is seen inside a branch of a Tesco Extra Supermarket in London, Britain, February 10, 2022. Tesco, like Sainsbury's, is absorbing some of its cost inflation rather than passing it all on to consumers. The group maintained its forecast for 2022-23 retail adjusted operating profit of between 2.4 billion pounds and 2.5 billion pounds ($2.9-$3.0 billion), down from the 2.65 billion pounds earned in 2021-22. It expects retail free cash flow of at least 1.8 billion pounds and profit from Tesco Bank of 120-160 million pounds. Shares in Tesco have fallen 17% over the last year, but are up 7% over the last month.

☆ Lund-Yates: The market is nervous about Apple because it doesn't know how to map future demand
▼ + stars: | 2023-01-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLund-Yates: The market is nervous about Apple because it doesn't know how to map future demandSophie Lund-Yates of Hargreaves Lansdown discusses the continued declines in shares of Apple and Tesla.

☆ Justice Department Faces Accusations It Outsourced a Corporate Investigation in Bribery Case
▼ + stars: | 2022-12-22 | by ( Dylan Tokar | ) www.wsj.com time to read: +7 min

PREVIEWThe case against Messrs. Coburn and Schwartz was presented as a model for the Justice Department’s approach to corporate crime when it was announced in 2019. The department’s investigation into Messrs. Coburn and Schwartz was prompted by one such tipoff. The Deutsche Bank ruling was heavily cited in the motions filed by Messrs. Coburn and Schwartz. Since Messrs. Coburn and Schwartz launched their legal challenge, the Justice Department has doubled down on its bid to recruit companies as corporate crime watchdogs. The judge earlier in December heard oral arguments by both sides related to the executives’ motions.

☆ Investigation finds women's professional soccer league plagued with 'widespread misconduct' dating back a decade
▼ + stars: | 2022-12-14 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

An investigation commissioned by the National Women’s Soccer League and its players union found “widespread misconduct” dating back a decade that included instances of sexual abuse, manipulation and mocking players’ bodies. Misconduct against players has occurred at the vast majority of NWSL clubs at various times, from the earliest years of the League to the present.”The league was founded in 2012 and is the longest-running professional women’s soccer league in U.S. history, the report said. Some of those steps include: strengthening the league-wide anti-harassment policy put in place in 2021; enhancing vetting procedures for new hires and establishing an anonymous league-wide hotline so players can report misconduct. “Our investigation over the past year has revealed a league in which abuse was systematic. Some coaches’ misconduct dates to prior professional leagues and some to youth soccer.”This is an ongoing story.

☆ Independent investigation of US women's professional soccer reveals 'widespread misconduct' by those in positions of power
▼ + stars: | 2022-12-14 | by ( David Close | ) edition.cnn.com time to read: +3 min

CNN —The National Women’s Soccer League and its players’ union have released a 128-page independent investigation report following a 14-month inquiry into accusations of “discrimination, harassment, abuse (physical, emotional or sexual) and retaliation” within the women’s professional league. The joint investigative team, which included members from two law firms, found “widespread misconduct directed at NWSL players” by those in positions of power. Portland Thorns fans hold signs during the first half of the team's National Women's Soccer League soccer match against the Houston Dash in Portland, Oregon, on October 6, 2021. Following Wednesday’s release of the new report, US Soccer released a statement acknowledging the misconduct which mirrored incidents detailed in the Yates report. US officials said a committee looking at implementing recommendations in the Yates report should announce “a robust action plan” by the end of January.

☆ Lund-Yates: Salesforce is geared towards sales & marketing, the exact part of the economy that suffers the most during a downturn
▼ + stars: | 2022-12-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLund-Yates: Salesforce is geared towards sales & marketing, the exact part of the economy that suffers the most during a downturnSophie Lund-Yates of Hargreaves Lansdown discusses the difficult stretch the cloud sector and market leader Salesforce have gone through, but says it's important to differentiate between a downturn and a crisis.

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